(a) Every lender and broker licensee shall maintain at his or
her place of business in this state, if any, or if he or she has no
place of business in this state, at his or her principal place of
business outside this state, such books, accounts and records
relating to all transactions within this article as are necessary
to enable the commissioner to enforce the provisions of this
article. All the books, accounts and records shall be preserved,
exhibited to the commissioner and kept available as provided herein
for the reasonable period of time as the commissioner may by rules
require. The commissioner is hereby authorized to prescribe by
rules the minimum information to be shown in the books, accounts
and records.

(b) Each licensee shall file a report through the Nationwide
Mortgage Licensing System and Registry under oath or affirmation
concerning his or her business and operations in this state for the
defined reporting period established by the Nationwide Mortgage
Licensing System and Registry and on a date established by the
Nationwide Mortgage Licensing System and Registry. The
commissioner may direct that the reports required by this
subsection and any other reports, data or information deemed
necessary by the commissioner be filed directly with the Division
of Financial Institutions on a date to be determined by the
commissioner. The reports, data and information filed pursuant to
this subsection are not public records and may not be open to public inspection.

(C) The commissioner may, at his or her discretion, make or
cause to be made an examination of the books, accounts and records
of every lender or broker licensee pertaining to primary and
subordinate mortgage loans made in this state under the provisions
of this article, for the purpose of determining whether each lender
and broker licensee is complying with the provisions hereof and for
the purpose of verifying each lender or broker licensee's annual
report. If the examination is made outside this state, the licensee
shall pay the cost thereof in like manner as applicants are
required to pay the cost of investigations outside this state.

(d) The commissioner shall publish annually a list of the
licenses issued under this chapter and shall direct consumers to
public information available through the Nationwide Mortgage
Licensing System and Registry.

(e) The commissioner may enter into cooperative and
information-sharing agreements with regulators in other states or
with federal authorities to discharge his or her responsibilities
under this article.
Note: WV Code updated with legislation passed through the 2016 Regular Session
The West Virginia Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.